Citigroup, BofA Get Boost
From Consumer Banking

Citigroup and Bank of America both reported higher second-quarter earnings today, much of the improvement due to the low-interest-rate environment that bolstered their consumer-banking businesses.

Citigroup reported net income that was up 5.4% at $4.3 billion, compared with $4.08 billion a year earlier, on revenue that rose 7.5% to $19.35 billion from $17.99 billion. Citibank also increased its quarterly dividend by 75%, to 35 cents a share from 20 cents a share, to take advantage of lower dividend tax rates included in...